Chairman, CEO
Total compensation: $16,348,456 for the year ended April 28
Salary: $1,593,770
Nonequity incentive pay: $6,136,139
Other compensation: $173,858
Exercised stock options: $3,300,720
Value realized on vesting shares: $5,143,969
New stock options: 204,407
Total fiscal 2017 shareholder return: 7.2 percent
Note: Ishrak's total compensation for fiscal 2017 was down 68 percent from the previous year, despite a 3 percent increase in his base salary and a 1.1 percent increase in his annual incentive bonus.
Much of the prior-year compensation — and this year's as well — came from the exercise of stock options and restricted stock that vested. This fiscal year Ishrak realized $8.4 million combined from those awards compared with $43.3 million the previous year.
During fiscal 2017, Medtronic had solid financial results, but overall performance was just below financial goals set for the year. For the company's long-term performance plan, it failed to meet the threshold requirement for a return on investment capital target but had maximum performance on a long-term revenue growth target.
Patrick Kennedy
Minneapolis-based Hennepin Healthcare says it also will suspend contributions to some worker retirement plans while pausing $24 million in capital projects.
